People's Bank of China to Intensify Cryptocurrency Transaction Monitoring by 2026

During the 2026 work conference held from January 5 to 6, the People's Bank of China explicitly set forth the enhancement of cryptocurrency transaction monitoring as a major agenda item for the year. The conference reviewed the progress made in 2025 in tightly managing the flow of funds associated with fraud and gambling, and in strengthening the regulatory oversight of cryptocurrency transactions. For 2026, the bank plans to continue developing the infrastructure for the cross-border use of the yuan while further enhancing the supervision and management of cryptocurrencies, continuing the crackdown on related illegal criminal activities. The bank also indicated a steady progression in the development of the digital yuan.